Arista Networks FY2024 EPS Estimate Raised by William Blair

Arista Networks, Inc. (NYSE:ANET) – Equities researchers at William Blair lifted their FY2024 earnings per share estimates for shares of Arista Networks in a research report issued to clients and investors on Thursday, December 5th. William Blair analyst S. Naji now anticipates that the technology company will post earnings of $1.98 per share for the year, up from their prior estimate of $1.98. The consensus estimate for Arista Networks’ current full-year earnings is $1.95 per share. William Blair also issued estimates for Arista Networks’ Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.57 EPS.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year.

Several other research firms have also recently weighed in on ANET. Citigroup boosted their price objective on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Rosenblatt Securities raised their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, StockNews.com raised Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

Arista Networks Stock Up 1.3 %

Shares of NYSE ANET opened at $108.25 on Monday. The company has a market capitalization of $136.37 billion, a PE ratio of 52.04, a PEG ratio of 3.18 and a beta of 1.10. The stock’s 50 day moving average price is $100.07 and its 200-day moving average price is $90.19. Arista Networks has a twelve month low of $53.12 and a twelve month high of $110.74.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GW Henssler & Associates Ltd. raised its holdings in Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares in the last quarter. Deepwater Asset Management LLC purchased a new position in shares of Arista Networks during the second quarter valued at about $15,084,000. Sumitomo Life Insurance Co. raised its stake in Arista Networks by 69.8% in the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after buying an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC purchased a new stake in Arista Networks in the third quarter worth about $2,318,000. Finally, Greenleaf Trust boosted its position in Arista Networks by 20.1% during the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after acquiring an additional 2,216 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $89.19, for a total transaction of $132,707.28. Following the transaction, the director now directly owns 10,260 shares of the company’s stock, valued at approximately $915,038.10. This trade represents a 12.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,676 shares of company stock valued at $28,280,199. Insiders own 3.54% of the company’s stock.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.